Question 1 Not yet answered Marked out of 1.00 Flag question Which of the following statements is correct? Select one: Monopolies are guaranteed to earn an economic profit O b. Monopolies have perfectly inelastic demand for the product sold O c. The market demand and the firm's demand are the same for a monopoly d. Monopolies have a horizontal demand curve. Question 2 Not yet answered Marked out of 1.00 Flag question A monopolist produces 14,000 units of output and charges $14 per unit. Its MR is $10, its MC is $10, its ATC is $12 and AVC is $9, then at the optimal output level, average fixed cost is: Select one: O a. $5 O b. $1 O c. $2 O d. $3